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Infrastructure bank to engage state govts on new fund


The acting Managing Director and Chief Executive Officer of The Infrastructure Bank, Ms Nkiru Chime, has said the bank will engage state governments in the management of the Infrastructure Support Fund.

The current administration recently established Infrastructure Support Fund for the 36 states of the federation as part of measures to cushion the effects of the petrol subsidy removal.

Regarding the newly established fund by the Federal Government, Chime noted, “The TIB is positioning to work with the state governments and minister to optimise that fund.”

She stressed the need for private capital to bridge Nigeria’s infrastructure deficit.

Speaking at the unveiling of the bank’s new logo and strategy during the week in Abuja, Chime noted that the bank was working with the government to ensure there were relevant policies that would attract public sector funding.

She said, “At TIB, we believe that the key to bridging the infrastructure deficit lies in attracting private capital into the space. So, TIB is working with the government; we are advocating for the right policies to enable the private sector to come in and invest.

“TIB also has what it takes to bring in viable projects, which is what the private sector needs to invest.”

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